Deals
Lorillard Bulls Light Up on Reynolds Deal Speculation
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Speculation that Lorillard Inc. will strike a deal with Reynolds American Inc. is heating up the options market.
Demand for bullish calls on Lorillard, the maker of Newport and Maverick cigarettes, reached a four-year high last month relative to puts, according to data compiled by Bloomberg. Short sellers have abandoned the stock during a 20 percent rally this year, leaving bets on declines at a one-year low, data from Markit Securities Ltd. show.